Anta Sports Products’ annual operating income rose by 20 percent in 2021 to 10,989 million yuan renminbi (€1.57b) as total revenue increased by 39 percent to RMB 49,328 million (€7.01b). Net income attributable to equity shareholders was 50 percent higher at RMB 7,720 million (€1.16b) for the 12 months ended Dec. 31. The Chinese company’s annual gross margin improved to 61.6 percent from 58.2 percent, bolstered by the growing percentage of higher-margin e-commerce orders, but the operating profit margin slipped nearly 14 percent to RMB 22.3 million (€3.2m).
By channel, e-commerce sales rose by 62 percent to RMB 8,221 million (€1.18b), increasing by 50 percent in absolute amount and contributing 29 percent of overall revenues. The gain was fueled by a stronger presence on key platforms such as T-mall, JD.com, Pinduoduo, VIP.com and social e-commerce channels. Annual DTC revenues escalated a whopping 485 percent to RMB 8,554 million (€1.22b) as traditional wholesale revenues slid 21 percent to RMB 7,237 million (€1.03b).
Anta revenues increased 53 percent to RMB 24,012 million (€3.77b), largely due to the growth of e-commerce, higher d-t-c revenues from a strategy adopted in the second half of 2020 and better customer demand and fewer discounts as China recovered from the pandemic. The operating profit for the Anta business increased 14 percent last year to RMB 5,145 million (€807.3m) as the gross margin grew 7.5 percent to 52.2 percent. The number of Anta stores, including Anta Kids standalone banners, was 9,403 on Dec. 31.
Meanwhile, Fila business revenues – Anta has the rights for Greater China and Singapore – jumped 25 percent to RMB 21,822 million (€3.4b) as segment operating income rose 19 percent to RMB 5,339 million (€838.0m) with the improvements attributed to e-commerce sales growth, more customer demand and less retail discounting. Fila’s gross margin ticked 1.2 percent higher to 70.5 percent as the brand ended the year with 2,054 stores among the PRC, Hong Kong, Macao, and Singapore. Descente and Kolon Sport led the all-other brands segment where annual sales increased 51 percent to RMB 3,494 million (€548.4m). Operating profit soared 230 percent to RMB 644 million (€101.1m), and gross margin came in 5.1 percent higher at 71.0 percent. There were 182 Descente retail doors among the PRC, Hong Kong, and Macao and 152 Kolon Sport stores open in the PRC at year-end.
By product category, Anta’s annual footwear sales rose 51 percent to RMB 19,139 million (€2.7b); apparel revenues increased 32 percent to RMB 28,632 million (€4.1b); accessories sales jumped 37 percent to RMB 1,557 million (€244.4m).
Anta has a stake in the AS Holding joint venture, which wholly owns Amer Sports and its Salomon, Arc’teryx, Peak Performance, Atomic and Wilson brands. AS Holding reported a net loss of RMB 154 million (€21.9m) for the 12 months. The company achieved comprehensive income of RMB 560 million (€79.6m) and a 47 percent improvement in Ebitda to RMB 2,367 million (€336.6m) as yearly revenues grew 18 percent to RMB 19,720 million (€2.86b) from RMB 16,704 million.
